Keeping you up to date on the latest data releases.
- Retail Sales
Total retail sales rose 0.8 percent in July, more than reversing a downwardly revised 0.6 percent decrease in June. The 12-month growth rate rose to 4.1 percent in July, up 0.6 percentage points from June. Nominal sales were up across every broad category. Sales of motor vehicle and auto parts dealers were up 0.8 percent in July and are up 8.2 percent over the past year. The strongest month-to-month gains were seen at sporting goods, hobby, book, and music stores (up 1.6 percent); nonstore retailers (up 1.5 percent); miscellaneous store retailers (up 1.2 percent); and health and personal care stores (up 1.1 percent). However, these strong gains in July mostly came after sharp losses in June, a pattern indicative of mismeasurement. A measure of the underlying trend in retail sales—“core” sales (which exclude auto, gasoline, and building materials)—jumped up 0.9 percent in July (its largest increase since January), compared to a 0.2 decline in June. On a year-over-year basis the series is up 4.4 percent.